“We continue to expect to have $900 million to $1 billion of merger and integration charges in 2023.”

In context

“$1.4 billion, consistent with earlier guidance. I will now provide updated guidance for the full year. For 2023, average earning assets are now expected to be in the range of $600 billion to $610 billion. We expect the net interest margin to be between 3.0% to 3.05% for the full year. Total revenue as adjusted is now expected to be in the range of $28.5 million to $30.5 billion, inclusive of approximately $350 million of full year purchase accounting accretion. Total non-interest expense as adjusted for the year is expected to be in the range of $17.0 billion to $17.5 billion, inclusive of approximately $500 million of core deposit intangible amortization related to Union Bank. Our estimated full year income tax rate on a taxable equivalent basis is now expected to be approximately 23.0%. We continue to expect to have $900 million to $1 billion of merger and integration charges in 2023. I will now hand it back to Andy for closing remarks. Andy Cecere: Thanks, Terry. Events of the past few weeks have certainly raised questions about the overall health of the banking industry and the economic outlook. Business of banking involves taking balanced risks and these risks must be carefully managed, appropriately regulated and prudently mitigated. At U.S. Bank, we are focused on the strength and stability of our balance sheet. Our investment in risk management practice is guided by our core principle that includes always doing the right thing for the many stakeholders, communities, and constituents we serve. A key strength of our institution is our high-quality and diversified business mix and deposit base. The combination of a mix of consumer, corporate and commercial customers”